Principal Solar (OTCMKTS:PSWW) Stock Moves in a Range: Now What?

Stocks trading within a range are not to be ignored considering the fact that it might often prove to be a period of consolidation before a rally. One of the stocks to have traded in a range in recent days is that of the renewable and clean energy strategic investment company Principal Solar (OTCMKTS:PSWW).

More importantly, the company was in the news yesterday as well and made a key announcement with regards to the signing of a collaboration agreement with IntelliMedia Networks Inc. IntelliMedia is based out of the United States and is engaged in providing high class media deliver services to its customers spread all over the globe.

However, the reasons behind this collaboration are far more complex. Principal Solar and IntelliMedia are going to collaborate towards the development of Global Virtual Environment Summit Platform. The goal of the platform is aimed at bringing about a reduction in the carbon footprint at summits which are attended physically by people.

The platform will work towards reducing the carbon footprint of the people in attendance while keeping not hampering the experience in any way. It was a major announcement from the company yesterday and it now remains to be seen if it can bring any attention to the Principal Solar stock today.

Market Reaction:

On Thursday, PSWW stock fell 2.45% at $0.1084 with more than 1.03 million shares, compared to its average volume of 3.61 million shares. The stock has moved within a range of $0.1071 – 0.1147 after opening the trade at $0.0111. Over the past 52-week, the stock has been trading within a range of $0.0100 – 0.7000.